FEATURED ARTICLES ABOUT SCANDENT SOLUTIONS - PAGE 2

BANGALORE/NEW DELHI: Scandent Group's move to sell off one of the largest listed BPO companies, Cambridge Solutions, has taken a new turn. Sources said Scandent's original promoter Ramesh Vangal, with about 18% stake, is likely to stay put in the company, and may rope in a new financial investor to buy out the current co-promoters. Serial entrepreneur Mr Vangal, Rajat Gupta ed MD of McKinsey, US-Canadian Bronfman family of Seagram fame, former Pepsi CEO Chris Sinclair and the Chanderia family together hold a little over 59% stake in the Rs 1,200-crore company, which could carry a valuation upwards of $350 million.

MUMBAI: Scandent group, the Singapore-based IT firm promoted, among others, by former McKinsey head Rajat Gupta and former Seagram India chairman Ramesh Vangal, is in talks with private equity firms to raise about $30m and pay off a portion of the debt it had taken while buying a US company last year. Industry sources said that DSP Merrill Lynch, the Mumbai-based investment banking firm, has been asked to find investors who would be willing to invest in Scandent's Mauritius-based holding company, Scandent Group (Ltd)

MUMBAI: Scandent Solutions announced its results on Tuesday for FY 05. Total revenues for the last quarter of 2005 were $16,524,762, up 5.7 percent, compared to total revenues of $15,641,664 for the previous quarter ending December 31st, 2004. Total earnings after taxes for the last quarter of 2005 were $2,207,867 up 22.5 percent, compared to earnings after taxes of $1,801,858 for the previous quarter ending December 31st, 2004. The company's earnings per share on a fully diluted basis for the most recent quarter was Rs.3.31.

MUMBAI: A battle has erupted between serial entrepreneur Ramesh Vangal and his former promoter colleagues in Scandent Solutions over a delay in the fulfilment of certain conditions in their agreement. People close to the situation said Mr Vangal is angry that he has not been given his share in Cambridge Solutions ? the Indian subsidiary of Scandent ? as promised. Cambridge is a Bangalore-based IT services and BPO company. Mauritius-based Scandent owns 59.11% stake in the company.

MUMBAI: Scandent Network Europe Ltd, the wholly owned subsidiary of Scandent Solutions Corporation Ltd has entered into an agreement to acquire shares of BWH France (BWH) for an undisclosed sum. BMH France had revenues of 1.3 million Euros during the last financial year and it is primarily focused on ERP space, Scandent informed the Stock Exchange, Mumbai (BSE) on Friday.

CHENNAI: Scandent Solutions Corporation, the merged entity of SSI's software services firm and the Scandent group, is all set to get listed on the BSE in the next two weeks. Sebi has given its approval and directed BSE to complete all formalities in relation to the listing of shares of unlisted transferred entity 'Scandent Solutions Corporation' within a period of 15 days from the receipt of its letter dated January 14, '04. Scandent group was founded by Ramesh Vangal along with the Edgar Bronfman family and Rajat Gupta, the former head of McKinsey & Co. By the end of '03, the Scandent group struck a deal with the Chennai-based SSI for a merger with the latter's software services business to create a leading tier II software services vendor.

BANGALORE: IT technology solutions firm Scandent Solutions Corporation Limited on Thursday announced that the company will now be known as Cambridge Solutions. This name change is a result of the merger between Scandent Solutions and Cambridge Holdings LLC, a knowledge-based business processing outsourcing firm that was approved on March 12, 2006, a company release said.

MUMBAI: SCANDENT Group has decided to merge US-based BPO company Cambridge Services holding into its listed entity Scandent Solutions Corporation. The share swap ratio has been set at one share of Cambridge for 583 shares of Scandent Solutions. Scandent Group had carved out the insurance processing division of US Insurance major Aon last year and bought a 75% stake in it. The total acquisition value at that time was said to be around $110m. Aon's 25% stake in Cambridge Services will translate into a 16.2% equity stake in Scandent Solutions.

MUMBAI: Indopark Holdings Ltd, a wholly owned subsidiary of Merrill Lynch and Co, plans to invest $30 mn in Scandent Solutions Corporation Ltd, to fund its growth plans in the outsourcing business, a company said on Thursday. Chris Sinclair, Executive Chairman and CEO, Scandent Solutions, said, "This investment is a vindication of the potential this merger holds and will fund our growth in an expanding outsourcing market. " The investment would be in the form of convertible bonds (CB)

NEW DELHI: US-headquartered Scandent Solutions Corporation, which acquired software solutions business of SSI Ltd, is planning to get listed on four Indian bourses soon. "We have got all approvals. We will be listing on Bombay Stock Exchange, National Stock Exchange, Ahmedabad Stock Exchange and Madras Stock Exchange," Scandent Chief Executive Officer Dilip Keshu said. Scandent listing on Indian stock exchanges will be unique as it will be the only subsidiary of the company in the world which will be listed.